Home Loan services in Mumbai
Home Loan, as the name suggests is a loan taken for purchasing or construction of home/residence. Apart from this, home loan is also taken to buy land and construct a house on it or to repair an actual property. Home loan services in Mumbai, thus, helps in realization of dream of owning a home even if a person/family do not have ready cash to pay it all up front. There are certain lending norms for availing a house loan and these vary slightly from one lender to another. Banks usually lend between 75-80% of the value stipulated in the agreement and the rest amount is borne by the buyer (borrower). The valuation of the property is carried out by the bank and in cases and is usually come out to be lower than borrowers expectations. The landing rate varies from one leading institution to another and also depends on how the economy and real estate sector is performing.